What does it look like to run a school with a truly diversified revenue model? In this conversation, Gardner Barrier, founder of Gardner Barrier Consulting, breaks down the difference between viewing spending as an expense and as an investment, and why that shift opens an entirely different set of financial decisions for school leaders and boards.

The conversation covers how to identify and activate underutilized campus assets, how to think about tuition dependence as a variable you can manage, and how to bring a board into an investment mindset so that financial decisions are driven by strategy rather than reaction. Practical, grounded, and applicable regardless of where your school is financially right now.

5 Top Takeaways

Expense vs. investment is not just semantics. When you categorize spending as an expense, the conversation stops at the outflow. When you treat it as an investment, you ask about the return. That question leads to better decisions at every level of the organization.
Tuition dependence is a risk variable, not a given. Knowing what percentage of your revenue comes from tuition, and being intentional about what that number should be, is one of the most important strategic conversations a leadership team and board can have.
Your campus is likely being used at a fraction of its potential. Classrooms, labs, studios, and gyms sit idle for the majority of the year. Schools that ask who else could use these spaces, and when, are finding real revenue without adding complexity to their core program.
Diversifying revenue is not about chasing big ideas. It is about making a series of small, strategic bets across your portfolio so that softness in one area does not put the whole institution under pressure.
The head of school is the expert in the boardroom. Teaching the board to think in terms of investment and return is not overstepping. It is part of the job, and the schools that do it well make better financial decisions at the governance level.